- To pass an FHA inspection, the house must be habitable. The roof and structure must be solid and all major systems in good working order.
- Though a house is habitable, missing GFI plugs, missing handrails, a fuse box rather than circuit-breaker panel, and peeling paint can all result in FHA loan denial.
- Only single-family homes, including condos, townhouses and row houses qualify for FHA loans.
- Second homes are not eligible for FHA loans. The house must be your primary residence.
- An objective, professional appraisal must conclude that the house is worth the agreed-upon purchase price. The appraiser is hired by the bank, not the buyer.
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